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  • Writer's pictureLoanOnTime

7 Steps On How To Get The Best Mortgage Rate

Updated: Dec 31, 2019

When searching for the best rate, even for refinancing, do the necessary research to make Sure you’re getting the best fit for your situation. Look beyond your bank or credit union, talk To multiple lenders and explore options online. “Shop and compare based on the loan Estimates received,” Saunders says. “You wouldn’t normally purchase a car without test Driving it first. Test drive your loan before proceeding with your purchase.”

Here Are The 7 Steps For A Better Rate

1. Improve your FICO credit score

2. Build a record of employment

3. Save up for a down payment

4. Consider an adjustable-rate mortgage

5. Go for a 15-year fixed-rate mortgage

6. Shop among multiple lenders

7. Lock in your rate!

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